12 November, 2004

Russia, Siberia: SUN Interbrew, Russia's second-larges brewery, denied on Thursday, November 11, it was planning to build a 50 million-euro ($64.30 million) brewery in Siberia, according Reuters’ statement.

In September, an official with the Irkutsk administration said that SUN Interbrew's board had made the decision in principle and would take a final decision at the end of September or start of October. "This information was spread by the Irkutsk regional administration by mistake," Senior Vice President Irina Kibina told reporters.

"The Irkutsk region has been considered as one of the sites at a very preliminary level. There is no progress in this issue." Axel Gietz, senior vice president at InBev , which controls SUN Interbrew, said the company was considering acquisitions in Russia as it was difficult to move goods across a country with 11 time zones, but declined to elaborate. The company has said it would invest 100 million euros ($128.6 million) in Russia next year and planned acquisitions in Siberia. ($1=.7776 Euro)

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